Good morning.
The Fast Five → Stocks hit all-time highs, Anthropic, SpaceX announce computing deal, AMD soars after earnings on strong demand, corporate America shrugs off economic uncertainty, and 30 charged in massive insider-trading ring…
📌 When the SpaceX IPO hits… Everyone will rush in. And most will already be too late. Because the real opportunity isn’t the IPO itself. It’s the infrastructure behind it. While the “retail crowd” waits for a ticker symbol that doesn’t exist yet, the smart money is buying this supplier at a fraction of its future value.
See the stock behind the SpaceX buildout >>
(from Behind The Markets)
Calendar: Full Calendar »
Today:
Unemployment Claims, 8:30A
Tomorrow:
Average Hourly Earnings, 8:30A
Non-Farm Employment, 8:30A
Unemployment Rate, 8:30A
Your 5-minute briefing for Thursday, May 7:
BEFORE THE OPEN
As of market close 5/6/2026.
Pre-Market:
Market Wrap:
Futures slightly lower S&P -0.1%, Nasdaq -0.2%, Dow flat
Wednesday rally S&P +1.46%, Nasdaq +2.02%, Dow +612
S&P and Nasdaq hit fresh record highs
Strong earnings and AI momentum continue driving rally
US, Iran reportedly nearing framework deal
Trump warns strikes resume if Iran rejects proposal
DoorDash +10%, Fortinet +16% after earnings
EARNINGS
Here’s what we’re watching this week:
Today: Coinbase $COIN ( ▲ 0.11% ), CoreWeave $CRWV ( ▲ 7.89% ), *Howmet Aerospace $HWM ( ▲ 5.66% ), *McDonald’s $MCD ( ▼ 0.38% ), NuScale Power $SMR ( ▲ 13.9% ), *Tapestry $TPR ( ▲ 5.26% )
*Canadian Natural Resources $CNQ ( ▼ 4.64% ) - EPS of $1.08 (-7.4% YoY) on $10.17B revenue (-7.1% YoY)
The Biggest IPO in History is Weeks Away
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HEADLINES
Anthropic PBC has signed an agreement with Elon Musk’s SpaceX to bolster computing resources and meet surging demand for its Claude artificial intelligence software.
Lawyers from top mergers and acquisitions firms provided tips on some of the biggest deals of the last decade to an insider trading ring that made tens of millions of dollars in illegal profits, federal prosecutors said.
Chip makers push Nasdaq, S&P 500 to fresh highs (more)
The 'K-shaped economy' has shown up at the gasoline pump (more)
Corporate America shrugs off economic uncertainty (more)
Oil supply shock to worsen as inventories fall further (more)
SpaceX flags at least $55B investment in chip plant (more)
Meta-backed Scale AI wins $500M Defense Department deal (more)
AMD stock soars after earnings show strong AI chip demand (more)
Arm jumps after earnings confirm surging AI data center spending (more)
Super Micro stock skyrockets on strong margin (more)
DoorDash pops 12% on strong earnings (more)
Warner Bros. Discovery reports $2.9B first quarter loss (more)
AI bots auditioning for Wall Street trading are mostly losing (more)
AI creates a mess for private equity (more)
Blue Owl private credit fund cuts dividend as borrowing costs rise (more)
DEALFLOW
M+A | Investments
Sony to pay almost $4 billion for Bieber, Neil Young catalog
Nvidia inks $500M deal with fiber-optic maker Corning
Google DeepMind takes minority stake in ‘Eve Online’ maker
Babybel maker buys Brainiac to broaden kids snacks
VC
Astranis, a company developing satellites for high orbits, raised $455M in equity and debt financing
Tessera Labs, a multi-agent AI platform provider, raised $60M in funding
Kanvas Biosciences, a spatial biology company, raised $48M in Series A funding
Xbow, a company specializing in autonomous offensive security, raised $35M in additional Series C funding
Vori, a self-driving operating system for grocery stores, raised $22M in Series B funding
Scout Space, space domain awareness sensors and software, raised up to $18M in Series A fundin
SageOx, a startup building a shared context infrastructure for AI-native teams, raised $15M in Seed funding
District, an AI commerce platform, raised $14.7M in Seed funding
MOSH, a brain health nutrition brand, raised $13M in Series A funding
Altara, an AI company building a scientific intelligence platform for R&D through manufacturing, raised $7M in Seed funding
InstaSwitch, an account activation infrastructure for business banking, raised $4.7M in Seed funding
Modicus Prime, an AI Compliance platform, raised $4.5M in additional funding
Saltbox, an operations hub for product-based businesses, raised an undisclosed amount in Series C funding
CRYPTO
BULLISH BITES
📉 Will the Iran crisis cause a global recession?
🚨 NPR went looking for Polymarket’s listed HQ and found no company presence.
🤑 At elite events, the ultra-wealthy rebuff their critics.
🎓 The cities where grads are landing jobs.
DAILY SHARES
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